THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountant Act, Laws of Kenya)
VIRTUAL AUDIT STAFF TRAINING WORKSHOP:
A PRACTICAL APPROACH – Recording
Theme: Leveraging technology and automation for auditing in a pandemic environment
Date: 17th – 18th November 2021
Time: 9.00am – 3.30pm
Venue: Online – Recording
(This is one of the mandatory trainings for practicing license consideration)
OVERVIEW
The COVID-19 pandemic has brought with it a lot of disruptions and unprecedented ways of doing things and getting work done. The audit environment has not been spared with firms and practitioners exploring new ways of attending to audit engagements. Remote working has become the norm with many embracing technology and automation to execute tasks, keep records and facilitate reporting.
With technological advancements happening so fast and impacting almost every sphere of life, the accounting and auditing environment has equally been impacted and technology continues to impact the audit processes and procedures in a tremendous way. Automation of the audit process, use of artificial intelligence and machine learning are some of the ways which have been deployed in the auditing process with a big impact in the way audits have been planned and executed. Block chain and other emerging technologies have also been introduced to make the process of auditing more efficient with enhanced output within shorter time frames.
Recent cases of finger-pointing at the auditor for misidentification of risks within an organization, the attendant blame and discontent from the public demonstrate how vulnerable the auditor has become in the discharge of his duties. This calls for more innovative and advanced ways of doing the audit work. In view of this, technology by way of automation can remove some of the challenges so far experienced, give more acceptable outcomes and add value to the audit process.
The auditor therefore needs to establish the areas of possible risk in an assignment and undertake appropriate measures to mitigate such risk. Under the circumstances, the auditor is expected to be ahead of the possible challenges and be able to obtain enough assurance and indemnity to mitigate such risks.
In recognition of these demands to its members, ICPAK has organized this training to assist audit staff appreciate the risks they are exposed to in the course of their work and the possible ways of mitigating the same through use of technology and other tools available within the emerging technological environment.
At the end of this training workshop, the participants will be able to;
1. Identify and understand sources of audit and business risk, and the emerging risks due to the COVID-19 pandemic
2. Appreciate the new risks introduced through technology as the key business driver,
3. Understand the role of good governance in audit risk management
4. Appreciate the new challenges in group audits and resulting audit evidence
5. Understand the developments in the auditing standards and compliance requirements
6. Appreciate the emergence of smart contracts and other developments in the audit process
7. Develop and deploy an audit risk model under COVID-19 environment
8. Appreciate a practical approach to controls testing vs substantive testing
TARGET AUDIENCE:
Associate members, internal & external auditors, accountants, staff of the Office of the Auditor General, staff working in audit firms owned by members, and members in practice
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and reciprocating professional bodies will be awarded 10 Structured CPD Units upon successfully completion of the Webinar.
FINANCIAL COMMITMENT:
The Webinar charges are Kshs. 10,000. Charges will cater for online video access fees, learning materials, and e-certificates of attendance
ONLINE BOOKING:
Registration: Delegates are reminded to note that online booking for webinar is mandatory on https://www.icpak.com/event-registration/Online Booking
We call on Seminar participants to note that booking for is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is mandatory.
NATIONAL INDUSTRIAL TRAINING AUTHORITY (NITA) REIMBURSEMENT:
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)
Further requests can be channeled to us via telephone calls on +254 719 074 000, (+254) 733 856262 or via email to onlinelearning@icpak.com.
We encourage members to regularly visit our website https://www.icpak.com for updates.